Global Liquidity Watch: Weekly Update

Global Liquidity conditions still weak but they seem to be stabilising

The chart below shows our weekly measure of Global Liquidity derived from Central Bank balance sheet data. Latest data show that global liquidity growth is still weak (-4.0% 3m ann.). In nominal terms though, liquidity has stabilized at US$165.0tr, a touch higher than the previous week. Admittedly, this is still below the year’s average of US$166.5tr and the year’s high of US$168.7tr recorded in April. More is needed but the data reinforce our view that liquidity bottomed in October 2022. Back then, it hit US$158.8tr.